Treasurer Jim Chalmers has touted a drop in underlying inflation on Wednesday as the latest government data gave households hope the Reserve Bank of Australia (RBA) may opt out of another interest rate hike next week.
Treasurer Jim Chalmers has touted new figures showing underlying inflation is moderating following months of concern over a possible rate hike.Treasurer Jim Chalmers has touted a drop in underlying inflation on Wednesday as the latest government data gave households hope the Reserve Bank of Australia may opt out of another interest rate hike next week.
Chalmers has acknowledged inflation has been"sticky and stubborn," though he was pleased with the drop in underlying inflation. Picture: Sky News Australia "When we came to office, inflation had a six in front of it and now it has a three in front of it. We have seen those six consecutive quarters of lower underlying inflation and that is a really important development as well.”
He was later questioned again on this claim after taking to social media to illustrate how the “general direction of price pressures is downwards”.The Treasurer backed in his claim, insisting he was strictly speaking on Wednesday's new data. “I’m serious when I say ‘I don’t want to give free advice to the independent reserve bank'. I haven’t before now and I’m not going to now and I won’t in the future either there are good reasons not to do that.
RBA ABS Inflation Australian Bureau Of Statistics Jim Chalmers Interest Rates
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